The race to automate content at every stage of the marketing process is on. Denver-based Conga, the leader in Digital Document Transformation, and Apttus, the leader in quote-to-cash (QTC) solutions, made an announcement that San Mateo-based Apttus agreed to buy it an estimated $715 million.
Apttus is one of the world’s leading providers of quote-to-cash and contract lifecycle management (CLM) and Conga is an industry leader in document generation and digital transaction management. The combined business of two of Salesforce’s earliest ISV partners now has more than 10,000 enterprise and mid-market customers who bring in annual revenues of $400 million.
Apttus CEO Frank Holland will be leading the combined entity and Conga CEO Matthew Schiltz will be a part of the board of directors.
In this blog, we will be analyzing the rationale for this deal.
Analysis: Why Merge Now?
There is no doubt that the competition in big enterprises for contract lifecycle management and content automation is getting fiercer with every passing day. The decision of Apttus and Conga will mean a combined product family and larger sales force that will help both take on others in the market, including Adobe, DocuSign, and more.
The New Conga Elevates CLM with Apttus
Keeping the brand Conga and dumping Apttus is a clear sign of the growing potential and momentum that Conga has had in the market. The Conga Salesforce integration is one of the leading brands in the Salesforce AppExchange.
“Apttus and Conga are people-first businesses with core values that fit together seamlessly, and both are fueled by an inherent drive to succeed. Combined, we’ll continue to deliver the same dedication to customer service, innovation and culture as we have in the past. Our mission remains resolute — to ensure customer success and unmatched world-class products and services. Now, we’ll do it together.” said Frank Holland, Chief Executive Officer, Conga.
Conga contract management offerings were relatively lightweight in the past, but the association of Apttus now leads to a much stronger story. The Apttus-Conga merger deal positions the combined entity to stay ahead of the competition in the digital transaction management market.